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Indian rupee continues trading firm on robust U.S. jobs data

06 Feb 2012 Evaluate

Indian rupee resumed northward journey and is currently trading firm against dollar on the back of robust U.S. jobs data, which strengthen investor risk appetite across world markets. However United States created jobs at the fastest pace in nine months in January and the unemployment rate unexpectedly dropped to a near three-year low, giving a boost to President Barack Obama. Positive local shares also supported rupee to a greater extent. Meanwhile traders will now get some triggers from Greece rescue package as Greece's coalition parties will inform the European Union whether they accept the painful terms of a new bailout deal worth 130 billion Euros in order to avoid a disorderly default.

The partially convertible currency is currently trading at 48.62, stronger by 11 paise from its previous close of 48.73 on Friday. It has touched a high and a low of 48.79 and 48.62 respectively. The Reserve Bank of India's reference rate for the dollar stood at Rs 48.9640 and for Euro it stood at 64.3953 on February 3, 2012. While, the RBI's reference rate for the Yen stood at 64.24 the reference rate for the Great Britain Pound (GBP) stood at 77.4659. The reference rates are based on 12 noon rates of a few select banks in Mumbai.

Date1US$1GBP
February 3, 201248.9677.4659
February 2, 201249.1377.8495

(RBI-Reference Rate)

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